Steel Partners Holdings L.P. Sells 87,611 Shares of DMC Global $BOOM

Steel Partners Holdings L.P. lessened its stake in shares of DMC Global (NASDAQ:BOOM) by 7.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,106,830 shares of the industrial products company’s stock after selling 87,611 shares during the quarter. DMC Global makes up 0.0% of Steel Partners Holdings L.P.’s holdings, making the stock its 5th biggest holding. Steel Partners Holdings L.P. owned approximately 5.39% of DMC Global worth $6,430,682 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Gendell Jeffrey L acquired a new stake in shares of DMC Global during the 4th quarter valued at $6,036,000. BlackRock Inc. bought a new stake in DMC Global during the 2nd quarter worth $2,875,000. Federated Hermes Inc. increased its holdings in DMC Global by 159.3% in the 2nd quarter. Federated Hermes Inc. now owns 603,614 shares of the industrial products company’s stock worth $4,865,000 after purchasing an additional 370,833 shares in the last quarter. Mackenzie Financial Corp acquired a new position in DMC Global in the 4th quarter worth about $1,953,000. Finally, Empowered Funds LLC bought a new position in DMC Global in the second quarter valued at about $691,000. 77.63% of the stock is currently owned by institutional investors and hedge funds.

DMC Global Stock Performance

Shares of DMC Global stock opened at $6.86 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.23. DMC Global has a twelve month low of $4.69 and a twelve month high of $9.20. The stock has a market cap of $140.90 million, a price-to-earnings ratio of -7.38 and a beta of 1.74. The company’s fifty day moving average is $6.62 and its 200 day moving average is $6.47.

DMC Global (NASDAQ:BOOM) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.19. The business had revenue of $156.95 million during the quarter, compared to the consensus estimate of $148.97 million. DMC Global had a negative return on equity of 6.84% and a negative net margin of 3.37%. Sell-side analysts forecast that DMC Global will post -0.02 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Nicolaus lifted their price target on DMC Global from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DMC Global in a research note on Wednesday, August 19th. Finally, Wall Street Zen upgraded shares of DMC Global from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.00.

DMC Global Company Profile

DMC Global Inc (NASDAQ: BOOM) is a diversified industrial company headquartered in Houston, Texas. It operates through two core business segments—EVI and MECO—that deliver engineered products and services primarily to the mining, oil and gas, and water treatment markets. The company focuses on innovation, precision manufacturing and aftermarket support to help clients improve operational efficiency and safety in challenging environments.

The EVI segment, operating under the DynaEnergetics brand, designs and manufactures explosive perforating systems, well completion tools and precision components for the non-metallic mining and oilfield services industries.